Nuance Investments LLC Reduces Stake in Northern Trust Co. (NASDAQ:NTRS)

Nuance Investments LLC decreased its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,082,081 shares of the asset manager's stock after selling 500,837 shares during the quarter. Northern Trust makes up approximately 6.0% of Nuance Investments LLC's portfolio, making the stock its 4th largest position. Nuance Investments LLC owned about 1.49% of Northern Trust worth $260,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its stake in Northern Trust by 1.2% in the 3rd quarter. FMR LLC now owns 10,791,735 shares of the asset manager's stock valued at $749,810,000 after purchasing an additional 126,172 shares during the period. Primecap Management Co. CA increased its holdings in Northern Trust by 4.2% during the third quarter. Primecap Management Co. CA now owns 6,497,047 shares of the asset manager's stock worth $451,415,000 after buying an additional 264,805 shares during the last quarter. Northern Trust Corp raised its position in Northern Trust by 1.5% in the third quarter. Northern Trust Corp now owns 5,955,048 shares of the asset manager's stock worth $413,757,000 after acquiring an additional 89,696 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Northern Trust by 1.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,980,072 shares of the asset manager's stock valued at $346,015,000 after acquiring an additional 64,707 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Northern Trust by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,486,840 shares of the asset manager's stock valued at $311,746,000 after acquiring an additional 119,484 shares during the period. Hedge funds and other institutional investors own 83.19% of the company's stock.

Insiders Place Their Bets

In related news, insider Steven L. Fradkin sold 4,097 shares of the company's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares in the company, valued at $3,804,199.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Steven L. Fradkin sold 4,097 shares of Northern Trust stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the transaction, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven L. Fradkin sold 30,392 shares of the company's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now owns 55,707 shares of the company's stock, valued at $4,462,687.77. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America raised their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the stock a "buy" rating in a report on Wednesday, April 17th. Morgan Stanley reiterated an "underweight" rating and set a $86.00 price objective (up from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Royal Bank of Canada raised their target price on Northern Trust from $82.00 to $86.00 and gave the stock an "outperform" rating in a research note on Friday, January 19th. Jefferies Financial Group upped their price target on Northern Trust from $101.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, April 18th. Finally, Evercore ISI raised their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the company an "in-line" rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $84.92.

Northern Trust Stock Down 0.1 %

NASDAQ:NTRS traded down $0.08 during trading hours on Friday, reaching $86.70. 812,108 shares of the company traded hands, compared to its average volume of 1,325,712. The business's 50-day moving average price is $84.38 and its two-hundred day moving average price is $80.86. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $17.74 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.24 and a beta of 1.13. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $89.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.23. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. Analysts predict that Northern Trust Co. will post 6.86 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, June 7th. Northern Trust's dividend payout ratio is currently 66.23%.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

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